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Aveng to seek shareholder backing for sale of Grinaker-LTA stake to Kutana in March 

By: Terence Creamer     21st February 2017 Construction and engineering group Aveng will seek shareholder approval before the end of March for the sale of a 51% beneficial interest in Aveng Grinaker-LTA to Kutana Construction, a black economic empowerment company. Aveng has also decided to include Aveng Water in the transaction, along... 

Aveng CEO Kobus Verster in conversation with Terence Creamer on group's performance and outlook, as well as the impending sale of 51% of Grinaker-LTA to Kutana. Camera Work & Editing: Nicholas Boyd. Recorded: 21.2.17

Restructured Imperial continues disposal spree

By: Irma Venter     Updated 7 hours ago A new-look, restructured Imperial Holdings has, since 2015, disposed of, or is busy disposing of, 42 businesses with a total revenue of R11.9-billion and operating profit of R937-million. These disposals include Regent Insurance’s non-South African operations, as well as Jurgens Caravans and... 

Restructured Imperial continues disposal spree
Photo by Duane Daws
Mark Lamberti

Sacci outlines Budget expectations

By: Creamer Media Reporter      Updated 7 hours ago With Finance Minister Pravin Gordhan preparing to deliver his 2017 National Budget speech on Wednesday, the South African Chamber of Commerce and Industry (Sacci) weighed in on its expectations at a time when South Africa is experiencing subdued economic growth. Amid the Reserve Bank having... 

Coordination key to successful nuclear build programme

By: Megan van Wyngaardt     Updated 6 hours ago There is a pressing need for a clear definition of the roles different governmental departments, power utility Eskom and other industry participants will play in the nuclear build programme, as there is a currently “chaos around who is doing what job”. This was the overall theme of a panel... 

Outa to take Eskom to task at Competition Commission

By: Natasha Odendaal     21st February 2017 The Organisation Undoing Tax Abuse (Outa) has requested the Competition Commission to investigate the possibility of fining State-owned power utility Eskom and called for the unbundling of the utility into two entities to break its monopolistic control. The civil society group this week lodged a... 

Downstream steel industry not supportive of AMSA’s lobby for tariff protection – Neasa

By: Anine Kilian     Updated 7 hours ago The National Employers Association of South Africa (Neasa) on Tuesday requested that steel producer ArcelorMittal South Africa (AMSA) withdraw its plea to the downstream steel industry to join it in a united lobbying effort for higher levels of tariff protection on both primary and value-added... 

Gibela worried over impact of Duduza unrest on Dunnottar plant construction

By: Anine Kilian     Updated 7 hours ago Gibela Rail Transport Consortium has expressed concern over ongoing community unrest in Duduza, in Ekurhuleni, which is impacting on construction activities at its R1-billion Dunnottar train manufacturing plant. It said on Tuesday that the disruption to the time-sensitive construction work at the... 

Set top box policy amendment matter back in Constitutional Court

By: African News Agency      Updated 6 hours ago Advocate Wim Trengove SC told the Constitutional Court on Tuesday that a decision on the amended set top box (STB) policy was unnecessary as it would have no legal binding effect. Trengove, who is acting for Communications Minister Faith Muthambi, was quizzed by Chief Justice Mogoeng Mogoeng and... 

EOH, Steag join forces to boost energy services in South Africa

By: Megan van Wyngaardt     21st February 2017 JSE-listed technology solutions provider EOH Industrial Technologies on Tuesday entered into a strategic joint venture (JV) with German energy group Steag Energy Services broaden EOH’s services offering in South Africa. The JV will cover all aspects of power project developments, from inception... 

Germany shares its renewable-energy lessons

By: Kim Cloete     Updated 7 hours ago Germany is on an all-out campaign to decarbonise its energy system, with plans to slice carbon dioxide (CO2) emissions by 80% to 90% by 2050. It has identified hydrogen as an essential part of decarbonising its energy system. 

Ewseta, DUT launch EnergyDrive to create awareness of alternative energy sources

By: Megan van Wyngaardt     Updated 6 hours ago The Energy and Water Sector Education and Training Authority (Ewseta) and the Durban University of Technology (DUT) on Tuesday launched the EnergyDrive initiative, to educate rural communities on climate change and alternative energy sources. A custom-designed truck equipped with ten solar... 

Ewseta, DUT launch EnergyDrive to create awareness of alternative energy sources

Commission grants Barclays Africa some immunity in FX rigging probe

By: Reuters     21st February 2017 South Africa's competition watchdog has granted Barclays Africa conditional immunity from prosecution in return for its continuing cooperation in the rand currency rigging probe, the head of Competition Commission said on Tuesday. The Commission said last week it had found more than a dozen local... 

$1bn earmarked for AngloGold’s deep-but-cheap Mponeng mine

By: Martin Creamer     Updated 6 hours ago A big capital investment is on the cards for AngloGold Ashanti’s Mponeng gold mine, the world’s deepest underground operation. The former Western Deep Levels Number One mine was on the receiving end of a surfeit of comment when AngloGold Ashanti presented cash-rich results on Tuesday.  

$1bn earmarked for AngloGold’s deep-but-cheap Mponeng mine
Photo by Duane Daws
AngloGold Ashanti executive VP Graham Ehm

Ending mine fatalities most pressing 2017 priority – AngloGold

By: Martin Creamer     21st February 2017 The first and most pressing of AngloGold Ashanti’s key 2017 priorities is to put an end to mine fatalities by improving workplace conditions and bettering legal compliance, AngloGold Ashanti chief operating officer South Africa Chris Sheppard said on Tuesday, when the company posted stunning... 

Ending mine fatalities most pressing 2017 priority – AngloGold
Photo by Duane Daws
AngloGold COO South Africa Chris Sheppard

Gordhan sees difficult political year for ruling ANC

By: Reuters     21st February 2017 South African Finance Minister Pravin Gordhan said on Monday he sees a "difficult political year" for the ruling African National Congress (ANC) but that he saw "green shoots" of growth in an economy that is barely growing. The ANC has a major policy conference at the end of June and late this... 

Pretoria train crash injured now number over 200

By: News24Wire      21st February 2017 The final figure of the number of people injured when two passenger trains heading in opposite directions collided head-on at the Rosslyn station during peak hour on Monday evening is currently at 216, Metrorail said on Tuesday. Metrorail spokesperson Lillian Mofokeng said 177 commuters were... 

Free cash rockets to $278m, dividend resumed – AngloGold

By: Martin Creamer     21st February 2017 Gold mining company AngloGold Ashanti will resume dividends after lower operating and interest costs helped it nearly double free cash flow to $278-million on lower production. In the 12 months to December 31, AngloGold Ashanti produced 3.6-million ounces of gold across its 17-mine portfolio at a... 

Free cash rockets to $278m, dividend resumed – AngloGold
Photo by Duane Daws
Anglogold Ashanti CEO Srinivasan ‘Venkat’ Venkatakrishnan

Competition Commission settles with Citi over currency rigging

By: Reuters     20th February 2017 South Africa's Competition Commission has reached an agreement with Citibank for its role in a forex trading cartel, the antitrust watchdog said on Monday. The commission said in a statement Citi would pay a fine of R69.5-million rand ($5-million), less than the 10% of South African annual... 

Germany, South Africa discuss the prospect of fuel cell buses

By: Kim Cloete     20th February 2017 South African specialists and government officials have met with their German counterparts to discuss a pilot project to introduce hydrogen fuel cell buses in two cities in South Africa. Germany has already rolled out some such buses in Berlin, Stuttgart and Hamburg and is sharing its experience... 

Bytes Technology Group partners with empowerment group

By: Anine Kilian     20th February 2017 Bytes Technology Group has sold a 51% stake in its Bytes Conference Centre business to 51% black women-owned and -managed IYAVAYA HR Solutions. The partnership became effective in January. 

DAFF nears end of drought relief funding programme

By: Megan van Wyngaardt     20th February 2017 The Department of Agriculture, Forestry and Fisheries (DAFF) on Monday said delivery and distribution of feed, which forms part of its R212-million drought relief programme, is almost complete in the provinces, excluding Gauteng, that were declared as drought disaster regions. The department last... 

Edenville raises £2m to advance Rukwa project to production

By: Megan van Wyngaardt     20th February 2017 Aim-listed Edenville Energy has raised £2-million through an oversubscribed subscription of 250-million new ordinary shares at 0.8p apiece. The company also issued 125-million warrants to the subscribers on the basis of one warrant for every two new ordinary shares, exercisable at 1.08p per... 

Noncommunicable diseases present African pharmaceutical industry with a $40bn opportunity

By: Megan van Wyngaardt     20th February 2017 The growing incidence of noncommunicable diseases (NCDs) across sub-Saharan Africa, such as cardiovascular disease, cancer, diabetes and respiratory disease, in addition to infectious and parasitic illness, will present the pharmaceutical industry in Africa with a business opportunity of... 

New panel established to guide Gauteng on infrastructure projects 

By: Natasha Odendaal     20th February 2017 The Gauteng provincial government (GPG) has established an economic advisory panel to advise it on the roll-out of social and economic infrastructure projects planned for the next two years. GPG aims to leverage the various infrastructure projects planned for the next two years to promote the... 

Gauteng Premier David Makhura delivers his State of the Province Address. Date recorded: 20.02.17. Camerawork and video editing: Nicholas Boyd.

Rolfes posts strong interim results

By: Megan van Wyngaardt     20th February 2017 Chemicals group Rolfes on Monday reported a R37-million increase in operating profit to R97-million for the six months to December 31, while its earnings before interest, taxes, depreciation and amortisation also increased by 58% to R103-million. The strong performance came on the back of its... 

Minergy to list coal project in Botswana, also eyeing JSE

By: Martin Creamer     20th February 2017 Coal and energy company Minergy said on Monday that it will list on the Botswana Stock Exchange in the first half of this year and is also planning a Johannesburg Stock Exchange listing in 2017’s latter half. In the initial capital raising ahead of the listing of its Masama coal project, Minergy,... 

Minergy to list coal project in Botswana, also eyeing JSE
Minergy CEO Andre Boje

Index points to manufacturing investment recovery despite ‘fragile’ economy

By: Terence Creamer     20th February 2017 The Manufacturing Circle Investment Tracker, a quarterly index that tracks investment trends in the manufacturing sector, fell to 58 points in the fourth quarter of 2016 from above 70 points in the prior quarter. Nevertheless, chairman André de Ruyter said the index was still suggestive of an... 

Index points to manufacturing investment recovery despite ‘fragile’ economy
Photo by Duane Daws
André de Ruyter

Ten firms express interest in Kenya road building partnership

By: Reuters     20th February 2017 Ten companies have expressed interest in building a major road project from Nairobi into the Rift Valley and managing it for 30 years, Kenya's Public Private Partnership Unit (PPPU) has said in a statement. The East African nation is seeking more private investment to maintain the pace of... 

Aurecon appoints new global energy MD

By: Megan van Wyngaardt     20th February 2017 Engineering and infrastructure advisory company Aurecon has appointed Dr Alex Wonhas as its new global energy and resources business MD. Prior to this appointment, he was an executive director at the environment, energy and resources sector at Australia’s Commonwealth Scientific and Industrial... 

Solar-powered Africa 'never more possible and less expensive' – energy chief

By: Reuters     20th February 2017 A “solar revolution” is coming to Africa, comparable in scale and importance to the rapid surge in mobile phone use on the continent two decades ago, predicts the head of the International Renewable Energy Agency. Fast-dropping costs for solar power, combined with plenty of sun and a huge need... 

Fiscal consolidation, tax increases, SoE cost containment critical for pro-poor Budget - Busa

By: Natasha Odendaal     20th February 2017 Fiscal consolidation, considered and careful tax increases and parastatal cost containment will be critical elements for a pro-poor, pro-inclusive-growth Budget for South Africa for the year ahead. While there is a limit to what can be achieved through an effective Budget, Business Unity South... 

Certainty on Carbon Tax needed from this year’s Budget – Cova

By: Creamer Media Reporter      20th February 2017 With expectations of the long-awaited Carbon Tax being implemented in 2018, much more clarity and certainty will be needed from the 2017 Budget, which will be delivered by Finance Minister Pravin Gordhan on Wednesday. Currently, much uncertainty exists, with industry questioning policy certainty,... 

New-look M&R to transfer listing to Diversified Industrials board from Heavy Construction

By: Terence Creamer     20th February 2017 Murray & Roberts (M&R) has confirmed that its application to transfer its listing from the ‘Construction and Materials’ sector of the JSE to the ‘General Industrials’ sector has been approved and that the change will become effective from Monday, March 20. From that date, the company will trade... 

New-look M&R to transfer listing to Diversified Industrials board from Heavy Construction
Photo by Duane Daws
CEO Henry Laas

Pan African shares fall on fatality-linked mining suspension at Evander

By: Martin Creamer     20th February 2017 The share price of Pan African Resources fell by more than 8% in early trade on Monday after the company issued a stock exchange news service notice announcing a fatality-linked 55-day mining suspension of the Evander shafts where studies recently identified critical infrastructure issues... 

Pan African shares fall on fatality-linked mining suspension at Evander
Photo by Duane Daws
Pan African Resources CEO Cobus Loots

Gauteng infrastructure dept mulls concept of construction bank or fund

By: Natasha Odendaal     20th February 2017 The Gauteng Department of Infrastructure Development (DID) is exploring the possibility of establishing a dedicated construction or infrastructure bank or fund aimed at providing specialised funding or financing services to the construction sector. Chairing an exploratory roundtable on the... 

Gauteng infrastructure dept mulls concept of construction bank or fund
Photo by Duane Daws
Gauteng MEC for Infrastructure Development Jacob Mamabolo

NSFAS to fund over 400 000 students for 2017

By: News24Wire      20th February 2017 The National Student Financial Aid Scheme (NSFAS) has approved over 400 000 applications for funding for the 2017 academic year. NSFAS chairperson Sizwe Nxasana said they had approved a total of 309 788 students for universities and Technical and Vocational Education and Training (TVET), but... 

NSFAS to fund over 400 000 students for 2017

Fedusa 'dismayed' at Molefe's MP nomination

By: News24Wire      20th February 2017 The Federation of Unions of South Africa (Fedusa) has joined in the public outcry over the appointment of former Eskom Chief Brian Molefe to Parliament. In statement released on Sunday, the union said it was "dismayed’" that Molefe, who was linked to the controversial Gupta family in former... 

Fedusa 'dismayed' at Molefe's MP nomination
Photo by Duane Daws
Former Eskom Chief Brian Molefe

Mokonyane gives thumbs-up as Eastern Basin plant treats 94 Mℓ/d of AMD 

By: Ilan Solomons     17th February 2017 Water and Sanitation Minister Nomvula Mokonyane has lauded the successes achieved at the Eastern Basin acid mine drainage (AMD) treatment plant, in Springs, in Gauteng. The R1-billion plant, which started operations in June 2016, was completed under the instruction of State-owned water management... 

Water and Sanitation Minister Nomvula Mokonyane discusses the importance of the Eastern Basin acid mine drainage treatment plant. Camerawork: Nicholas Boyd. Editing: Lionel da Silva.

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